Manado Shareholder's Approve Amalgamation with Rewardstream
Vancouver, BC / TheNewswire / February 5, 2016 - Manado Gold Corp. ("Manado") (TSX-V: MDO) is pleased to announce that results of its special meeting (the "Meeting") that took place on February 5, 2016.
At the meeting, Manado's shareholders who participated in the meeting unanimously approved the amalgamation of Manado and RewardStream Solutions Inc. ("RewardStream"). Manado's shareholders who participated in the meeting unanimously approved the spin-out of the shares of Manado's subsidiary to the shareholders of record of Manado as of January 31, 2016. The amalgamation has already been approved by the shareholders of RewardStream.
Completion of the amalgamation is subject to a number of conditions including, but not limited to approval of the TSX Venture Exchange and the completion by Manado of a brokered private placement financing of 21,440,000 units of Manado (5,360,000 units of the resulting entity post-amalgamation) at a price of $0.07 per unit ($0.28 per unit of the resulting entity post-amalgamation), for gross proceeds of $1,500,800. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share at a price of $0.10 per share ($0.40 per share post-amalgamation) for a period of two years from the date of issuance. The brokered private placement is expected to be completed immediately before closing of the amalgamation.
About RewardStream Solutions Inc.
RewardStream specializes in the execution of automated referral marketing programs that help brands to acquire, engage, and retain customers. RewardStream's platform provides customer acquisition programs that deliver new customers at low cost per acquisition rates. RewardStream has provided its referral marketing services to companies such as Cricket Wireless, Virgin Mobile, Boost Mobile, Koodo Mobile, Rogers Wireless, Cross Country Home Services, First West Financial Services and First Calgary Credit Union. For more information, please visit www.rewardstream.com.
Logan Anderson
President
For further information, please contact:
Logan Anderson
Phone: (604) 685-4745
Email: manadogold@outlook.com
or
Investor Relations
Dave Ryan
Email: manadogold@outlook.com
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado's control. Such factors include, among other things, Manado's ability to complete the brokered private placement financing. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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